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美森（MATX）与Worthington Steel, Inc.（WS）财务数据对比。点击上方公司名可切换其他公司
Worthington Steel, Inc.的季度营收约是美森的1.0倍（$871.9M vs $851.9M），美森净利率更高（16.8% vs 2.2%，领先14.6%），Worthington Steel, Inc.同比增速更快（18.0% vs -4.3%），Worthington Steel, Inc.自由现金流更多（$74.6M vs $42.2M），过去两年美森的营收复合增速更高（8.6% vs 3.9%）
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
沃辛顿钢铁是总部位于美国俄亥俄州哥伦布市的工业制造企业，下设消费品和建筑建材两大业务板块，主营各类压力容器的设计与生产，覆盖丙烷、氧气、氦气储罐，制冷剂及工业气瓶，露营与民用气瓶，以及用于存储、处理、加热、扩容和流量控制的供水系统罐体等产品。
MATX vs WS — 直观对比
营收规模更大
WS
是对方的1.0倍
$851.9M
营收增速更快
WS
高出22.3%
-4.3%
净利率更高
MATX
高出14.6%
2.2%
自由现金流更多
WS
多$32.4M
$42.2M
两年增速更快
MATX
近两年复合增速
3.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $851.9M | $871.9M |
| 净利润 | $143.1M | $18.8M |
| 毛利率 | — | 10.7% |
| 营业利润率 | 16.9% | 2.5% |
| 净利率 | 16.8% | 2.2% |
| 营收同比 | -4.3% | 18.0% |
| 净利润同比 | 11.8% | 46.9% |
| 每股收益（稀释后） | $4.47 | $0.37 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MATXWS
| Q4 25 | $851.9M | $871.9M | ||
| Q3 25 | $880.1M | $872.9M | ||
| Q2 25 | $830.5M | $832.9M | ||
| Q1 25 | $782.0M | $687.4M | ||
| Q4 24 | $890.3M | $739.0M | ||
| Q3 24 | $962.0M | $834.0M | ||
| Q2 24 | $847.4M | — | ||
| Q1 24 | $722.1M | $805.8M |
净利润MATXWS
| Q4 25 | $143.1M | $18.8M | ||
| Q3 25 | $134.7M | $36.8M | ||
| Q2 25 | $94.7M | $55.7M | ||
| Q1 25 | $72.3M | $13.8M | ||
| Q4 24 | $128.0M | $12.8M | ||
| Q3 24 | $199.1M | $28.4M | ||
| Q2 24 | $113.2M | — | ||
| Q1 24 | $36.1M | $49.0M |
毛利率MATXWS
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 13.2% | ||
| Q2 25 | — | 15.2% | ||
| Q1 25 | — | 11.8% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | — | 12.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 14.9% |
营业利润率MATXWS
| Q4 25 | 16.9% | 2.5% | ||
| Q3 25 | 18.3% | 5.5% | ||
| Q2 25 | 13.6% | 8.0% | ||
| Q1 25 | 10.5% | 2.7% | ||
| Q4 24 | 16.6% | 2.6% | ||
| Q3 24 | 25.2% | 5.2% | ||
| Q2 24 | 14.7% | — | ||
| Q1 24 | 5.1% | 8.2% |
净利率MATXWS
| Q4 25 | 16.8% | 2.2% | ||
| Q3 25 | 15.3% | 4.2% | ||
| Q2 25 | 11.4% | 6.7% | ||
| Q1 25 | 9.2% | 2.0% | ||
| Q4 24 | 14.4% | 1.7% | ||
| Q3 24 | 20.7% | 3.4% | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | 5.0% | 6.1% |
每股收益（稀释后）MATXWS
| Q4 25 | $4.47 | $0.37 | ||
| Q3 25 | $4.24 | $0.72 | ||
| Q2 25 | $2.92 | $1.11 | ||
| Q1 25 | $2.18 | $0.27 | ||
| Q4 24 | $3.69 | $0.25 | ||
| Q3 24 | $5.89 | $0.56 | ||
| Q2 24 | $3.31 | — | ||
| Q1 24 | $1.04 | $0.98 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $141.9M | $89.8M |
| 总债务越低越好 | $361.2M | $72.1M |
| 股东权益账面价值 | $2.8B | $1.1B |
| 总资产 | $4.6B | $2.1B |
| 负债/权益比越低杠杆越低 | 0.13× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资MATXWS
| Q4 25 | $141.9M | $89.8M | ||
| Q3 25 | $92.7M | $78.3M | ||
| Q2 25 | $59.1M | $38.0M | ||
| Q1 25 | $122.0M | $63.3M | ||
| Q4 24 | $266.8M | $52.0M | ||
| Q3 24 | $270.3M | $36.0M | ||
| Q2 24 | $168.2M | — | ||
| Q1 24 | $25.9M | $60.8M |
总债务MATXWS
| Q4 25 | $361.2M | $72.1M | ||
| Q3 25 | $370.9M | $73.4M | ||
| Q2 25 | $341.3M | $151.5M | ||
| Q1 25 | $351.1M | — | ||
| Q4 24 | $361.2M | $115.0M | ||
| Q3 24 | $370.9M | $122.2M | ||
| Q2 24 | $381.0M | — | ||
| Q1 24 | $390.8M | $147.2M |
股东权益MATXWS
| Q4 25 | $2.8B | $1.1B | ||
| Q3 25 | $2.7B | $1.1B | ||
| Q2 25 | $2.6B | $1.1B | ||
| Q1 25 | $2.6B | $1.0B | ||
| Q4 24 | $2.7B | $1.0B | ||
| Q3 24 | $2.6B | $1.0B | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.4B | $937.6M |
总资产MATXWS
| Q4 25 | $4.6B | $2.1B | ||
| Q3 25 | $4.6B | $2.2B | ||
| Q2 25 | $4.5B | $2.0B | ||
| Q1 25 | $4.5B | $1.8B | ||
| Q4 24 | $4.6B | $1.7B | ||
| Q3 24 | $4.4B | $1.8B | ||
| Q2 24 | $4.3B | — | ||
| Q1 24 | $4.2B | $1.8B |
负债/权益比MATXWS
| Q4 25 | 0.13× | 0.06× | ||
| Q3 25 | 0.14× | 0.07× | ||
| Q2 25 | 0.13× | 0.14× | ||
| Q1 25 | 0.13× | — | ||
| Q4 24 | 0.14× | 0.11× | ||
| Q3 24 | 0.15× | 0.12× | ||
| Q2 24 | 0.16× | — | ||
| Q1 24 | 0.16× | 0.16× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $176.9M | $99.3M |
| 自由现金流经营现金流 - 资本支出 | $42.2M | $74.6M |
| 自由现金流率自由现金流/营收 | 5.0% | 8.6% |
| 资本支出强度资本支出/营收 | 15.8% | 2.8% |
| 现金转化率经营现金流/净利润 | 1.24× | 5.28× |
| 过去12个月自由现金流最近4个季度 | $153.7M | $72.5M |
8季度趋势，按日历期对齐
经营现金流MATXWS
| Q4 25 | $176.9M | $99.3M | ||
| Q3 25 | $175.6M | $-6.3M | ||
| Q2 25 | $105.6M | $53.9M | ||
| Q1 25 | $89.0M | $53.8M | ||
| Q4 24 | $174.7M | $68.0M | ||
| Q3 24 | $248.6M | $54.6M | ||
| Q2 24 | $307.9M | — | ||
| Q1 24 | $36.6M | $44.7M |
自由现金流MATXWS
| Q4 25 | $42.2M | $74.6M | ||
| Q3 25 | $92.4M | $-35.7M | ||
| Q2 25 | $19.3M | $8.4M | ||
| Q1 25 | $-200.0K | $25.2M | ||
| Q4 24 | $49.3M | $33.2M | ||
| Q3 24 | $189.0M | $33.1M | ||
| Q2 24 | $238.1M | — | ||
| Q1 24 | $-18.7M | $22.3M |
自由现金流率MATXWS
| Q4 25 | 5.0% | 8.6% | ||
| Q3 25 | 10.5% | -4.1% | ||
| Q2 25 | 2.3% | 1.0% | ||
| Q1 25 | -0.0% | 3.7% | ||
| Q4 24 | 5.5% | 4.5% | ||
| Q3 24 | 19.6% | 4.0% | ||
| Q2 24 | 28.1% | — | ||
| Q1 24 | -2.6% | 2.8% |
资本支出强度MATXWS
| Q4 25 | 15.8% | 2.8% | ||
| Q3 25 | 9.5% | 3.4% | ||
| Q2 25 | 10.4% | 5.5% | ||
| Q1 25 | 11.4% | 4.2% | ||
| Q4 24 | 14.1% | 4.7% | ||
| Q3 24 | 6.2% | 2.6% | ||
| Q2 24 | 8.2% | — | ||
| Q1 24 | 7.7% | 2.8% |
现金转化率MATXWS
| Q4 25 | 1.24× | 5.28× | ||
| Q3 25 | 1.30× | -0.17× | ||
| Q2 25 | 1.12× | 0.97× | ||
| Q1 25 | 1.23× | 3.90× | ||
| Q4 24 | 1.36× | 5.31× | ||
| Q3 24 | 1.25× | 1.92× | ||
| Q2 24 | 2.72× | — | ||
| Q1 24 | 1.01× | 0.91× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
WS
| Direct | $844.1M | 97% |
| Toll | $27.8M | 3% |
